Community Development Bank, FSB Mortgage Lending & HMDA Data, 2018
In 2018, Community Development Bank, FSB of Ogema, MN reported 47 mortgage applications totaling $5.5 million. The average application was for $117,340, and applicants reported an average income of $134,468. 77% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (17), Duluth, MN-WI (1) and Grand Forks, ND-MN (1) (applications in parentheses).
| Mortgage Company & Address | Community Development Bank, FSB 516 Main St Ogema, MN 56569 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2019 2018 |
| Total Number of Mortgage Applications | 47 |
| Total Mortgage Loan Application Amount | $5,515,000 |
| Average Mortgage Loan Application Amount | $117,340 |
| Highest Mortgage Loan Application Amount | $375,000 |
| Average Applicant Income | $134,468 |
| Highest Applicant Income | $3,385,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Community Development Bank, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Outside any metro area | 28 | $ 2,680,000 | $ 95,714 | $ 56,571 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 17 | $ 2,595,000 | $ 152,647 | $ 408,470 |
| Duluth, MN-WI | 1 | $ 75,000 | $ 75,000 | $ 69,000 |
| Grand Forks, ND-MN | 1 | $ 165,000 | $ 165,000 | $ 67,000 |
Mortgage Loan Application Detail Totals for Community Development Bank, FSB in 2018
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 41 | $4,855,000 | $118,000 | $375,000 | $56,000 | $128,000 |
| Home Improvement | 3 | $325,000 | $108,000 | $255,000 | $118,000 | $216,000 |
| Other Purpose | 2 | $230,000 | $115,000 | $205,000 | $1,753,000 | $3,385,000 |
| Cash-out Refinancing | 1 | $105,000 | $105,000 | $105,000 | $164,000 | $164,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 33 | $4,275,000 | $129,000 | $375,000 | $170,000 | $3,385,000 |
| Not applicable | 9 | $755,000 | $83,000 | $145,000 | $0 | $0 |
| American Indian or Alaskan Native | 4 | $290,000 | $72,000 | $185,000 | $40,000 | $48,000 |
| Asian | 1 | $195,000 | $195,000 | $195,000 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 37 | $4,365,000 | $117,000 | $375,000 | $194,000 | $3,385,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 10 | $1,150,000 | $115,000 | $165,000 | $53,000 | $74,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 36 | $3,750,000 | $104,000 | $375,000 | $202,000 | $3,385,000 |
| Application Denied By Financial Institution | 10 | $1,600,000 | $160,000 | $355,000 | $48,000 | $84,000 |
| Application Withdrawn By Applicant | 1 | $165,000 | $165,000 | $165,000 | $38,000 | $38,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 37 | $3,915,000 | $105,000 | $375,000 | $196,000 | $3,385,000 |
| Debt-To-Income Ratio | 6 | $1,160,000 | $193,000 | $355,000 | $55,000 | $84,000 |
| Credit History | 4 | $440,000 | $110,000 | $185,000 | $37,000 | $57,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Community Development Bank, FSB's 2018 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Community Development Bank, FSB's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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